July 25, 2024
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BitMEX’s 100x Group appoints Alexander Höptner as the new CEO

BitMEX's 100x Group appoints Alexander Höptner as the new CEO

The BitMEX operator parent, 100x Group, appoints Alexander Höptner as its new CEO (Chief Executive Officer). He will substitute Vivien Khoo, who temporarily took over the apex role in early October. He took the position after the exchange’s co-founder, Arthur Hayes, quit the position. Moreover, he and the other two co-founders of the exchange face criminal charges in the United States. 

Alexander Höptner withholds a charge of the Seychelles-registered exchange along with a lawsuit in the U.S. for the demolition of various regulatory compliances. Additionally, he will have to replace traders’ gain on the once preeminent crypto derivatives exchange. 

100x Group’s new CEO, Alexander Höptner, holds Majors in Finance

Höptner specializes in the financial industry. He has over two decades of experience in the sector. In the starting phase of his career, he joined Deutsche Börse and employed a dozen years in different roles. Additionally, he established and managed a few companies in the financial space.

In accordance with the announcement, the BitMEX parent company, 100x Group, appoints Alexander Höptner to develop its digital financial services. Moreover, 100x Group aims to accomplish this goal via the improvement and investment in BitMEX. The newly appointed CEO for BitMEX parent company states that he has the same purpose as the founding executives of both companies to enhance lives via the development of a regulated ecosystem for cryptocurrencies. Höptner revealed that the crypto industry’s future would belong to organized trading platforms with liquidity, innovation, and justice for the retail and institutional users.

In October, the exchange was charged by the U.S. regulators for criminal operations. Moreover, it involved money laundering. This brought destruction for the exchange as there was an important outflow of assets, particularly Bitcoin, observed through these times. Provided the association of former BitMEX CEO Arthur Hayes and other executives in the charges, the parent company fired them from their positions. Moreover, at the time, 100x Group elected its COO, Vivien Khoo, to work as an interim CEO of the exchange.

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